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Arewa, Ohaneze Youths, Others Back Emefiele on Crypto Ban

Nigerian central bank governor Godwin Emefiele in Abuja, Nigeria, in this file photograph dated July 24, 2015. REUTERS/Afolabi Sotunde/Files

The Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Oduduwa Youths and Middle Belt Youths have hailed the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, over the bank’s recent policy stopping Deposit Money Banks (DMBs) non-financial institutions and other financial institutions from doing business in crypto and other digital assets.

The groups, in a joint statement issued on Sunday by Ohanaeze Secretary General, Nwada Ike Chiamaka, described the ban as patriotic and courageous.

They urged the CBN governor not to relent in his efforts to sanitise not only the nation’s banking sector but the entire economic landscape.

According to the statement, ”We know of a fact that this policy is a hard hit against financial criminals of the underworld who in turn will stop at nothing in their desperate bid to ensure that the policy is changed so that they can continue to have their way. We urge the CBN team not to succumb to any pressure. The policy should be strictly implemented and those who flout the rule should be sanctioned appropriately.”


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